Question
Hankins Inc. collects 25% of its net credit sales in the month of the sale and 75% in the month following the sale. Hankins has
Hankins Inc. collects 25% of its net credit sales in the month of the sale and 75% in the month following the sale. Hankins has the following sales during the last quarter of the year:
October: $250,000
November: $310.000
December: 290,000
How much is Hankins Accounts Receivable balance at December 31?
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Risk-Based Internal Audit
Authors: Jason Lee Mefford
1st Edition
1631922629, 9781631922626
